Financial Director has written an interesting piece about PwC’s annual benchmarking report and highlight how the finance function is improving efficiencies and reducing costs through automating processes. As they state:

“PwC’s annual finance function benchmark report found that the best performing finance functions cost 40% less than their peers and have ditched the traditional focus on book-keeping and information gathering in favour of greater automation, shared services and more efficient use of capacity.”

On top of this, automation is allowing them to focus on the generation of actionable intelligence to add value to the business:

“The best finance professionals today are producing actionable information, not circulating numbers that are likely to be out of date as soon as they’re released.”

The Record to Report or close process is no different in this regard, with technology delivering a number of key functions including Visibility, Collaboration, Insight, Automation, and Integration. Click here to view a webinar on how automation can help deliver real value to your business.